The specifications on an electronic component in a target-acquisition system are that its life must be between 5000 and 10,000 h. The life is normally distributed with mean 7500 h. The manufacturer realizes a price of $10 per unit produced; however, defective units must be replaced at a cost of $5 to the manufacturer. Two different manufacturing processes can be used, both of which have the same mean life. However, the standard deviation of life for process 1 is 1000 h, whereas for process 2 it is only 500 h. Production costs for process 2 are twice those for process 1. What value of production costs will determine the selection between processes 1 and 2?

Answer the following questions using the information below: southwestern college is planning to hold a fund raising banquet at one of the local country clubs. it has two options for the banquet: option one: crestview country club a. fixed rental cost of $1,000 b. $12 per person for food option two: tallgrass country club a. fixed rental cost of $3,000 b. $8.00 per person for food southwestern college has budgeted $1,800 for administrative and marketing expenses. it plans to hire a band which will cost another $800. tickets are expected to be $30 per person. local business supporters will donate any other items required for the event. which option has the lowest breakeven point?

At a small store, a customer enters the front door on average every 8 minutes. a prior study indicated that the time between customers entering the front door during weekdays follows an exponential distribution. what is the probability that the time between customers entering the store on a weekday will be less than or equal to 7? select one: a. 62 b. 43 c. 1/8 d. 7/8 e. 58

In terms of the "great wheel of science", statistics are central to the research process (a) only between the hypothesis phase and the observation phase (b) only between the observation phase and the empirical generalization phase (c) only between the theory phase and the hypothesis phase (d) only between the empirical generalization phase and the theory phase